BUILT in Cook Loan Fund

BUILT in Cook Loan Fund – Broadening Urban Investment to Leverage Transportation

Cook County’s Department of Planning and Development is developing a master strategy of leveraging existing assets including people, employers, educational institutions, infrastructure, and technological systems with current and proposed investments to advance economic growth and promote sustainable communities along transportation corridors in suburban Cook County.
 
Towards this end,  the Department is seeking to establish a $30 million BUILT in Cook Loan Fund as its newest tool for fostering greater economic development. As an entitlement jurisdiction under the U.S. Department of Housing and Urban Development’s (HUD) Community Development Block Grant (CDBG) Program, Cook County has prepared a Draft Section 108 Loan Guarantee Program Application, which describes this financing mechanism and identifies proposed uses and strategies  for realizing greater business and economic development opportunities in suburban Cook County.
 
We seek your input regarding this Draft Application. It may be viewed and downloaded at the conclusion of this  blog.  
 
Written comments are currently being accepted through 4 p.m. on  Wednesday, September 5, 2012 and should be directed to Jennifer Miller, Program Manager, Cook County Bureau of Economic Development, Department of Planning and Development, 69 West Washington Street, Suite 2900, Chicago, IL 60602 or Jennifer.miller@cookcountyil.gov.
 
As additional reference, the Draft Substantial Amendment to the 2010-2014 Consolidated Plan, which is required by HUD and mirrors components of the Draft Application, is also available for review and comment at the conclusion of this blog.  
 
Both items will be reviewed and considered for approval by the Community Development Advisory Council (CDAC) at 7 p.m. on August 22, 2012 and the Cook County Board of Commissioners at 9 a.m. on September 10, 2012. These meetings will occur in the Cook County Board Chambers located at 118 North Clark, 5th Floor, Chicago, IL 60602 and are open to the public. 
 
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View BUILT in Cook Loan Fund -Draft Section 108 Loan Guarantee Program Application:

BUILT in Cook Loan Fund – pdf download

Draft Substantial Amendment to the 2010-2014 Consolidated Plan:

 Substantial Amendment – DRAFT – to the 2010-1014 Consolidated Plan – pdf download